By Susanna Moon
Chicago, Sept. 30 - UBS AG, London Branch priced $6.5 million of trigger phoenix autocallable optimization securities due Oct. 2, 2023 linked to the least performing of the Euro Stoxx 50 index and the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.8% if each index closes at or above its coupon barrier, 70% of its initial level, on an observation date for that quarter.
The notes will be called at par of $10 plus the contingent coupon if each index closes at or above its initial level on any quarterly observation date after one year.
If the notes are not called and each index finishes at or above its trigger level, 50% of its initial level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be exposed to any losses of the worst performing index.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | UBS AG, London Branch
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying indexes: | Euro Stoxx 50, MSCI Emerging Markets index
|
| Amount: | $6,500,200
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| Maturity: | Oct. 2, 2023
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| Coupon: | 7.8% annualized for each quarter that indexes closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus contingent coupon if each index finishes at or above trigger level; otherwise, full exposure to losses of worst performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly observation date beginning Sept. 26, 2014
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| Initial index levels: | 2,922.99 for Euro Stoxx and 1,003 for MSCI EM
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| Coupon barriers: | 2,046.09 for Euro Stoxx and 702.10 for MSCI EM; 70% of initial levels
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| Trigger levels: | 1,461.50 for Euro Stoxx and 501.50 for MSCI EM; 50% of initial levels
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| Pricing date: | Sept. 26
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| Settlement date: | Sept. 30
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| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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| Fees: | 3.5%
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| Cusip: | 90271M468
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